Managing Finances in the UK

The London School of Emerging Technology recommends opening a UK bank account after entering the country. It is the best and most effective way of protecting and managing your money as a student.

Banking in the UK

The majority of the UK banks will demand a UK address before they allow you to open an account in one of their branches. The address is required for security reasons because they want to make sure that you are a genuine immigrant and can send your debit card. There are certain steps to make you understand the banking rules and regulations in the UK. The London of School of Emerging Technology has no influence or connection with any type of bank account students wish to open. It is completely up to you where you want to open a bank account since we do not recommend any particular bank.

Fulfilling the Early Costs When You Enter the Country

It is quite a lengthy process to open a UK bank account. If you have decided to open a high street bank account, you must visit your bank branch more than once to get started with your account. Once you have started an account, it is necessary to wait for 10 days before you receive your bank card via post. You can also start an account with PayPal or Wise for purchasing online goods and services. Easily make payments through your international bank accounts. It is also a good idea to get pre-paid cash cards. It is never a great idea to carry a huge amount of cash with you. Plus, there are several restrictions on the amount of cash that you bring to the UK.

The Required Documents for Starting a Bank Account

The list of required documents will depend on the bank where you are trying to open your account. However, we recommend you gather the following documents for verification;

  • Your valid passport and visa with your BRP if you are an international student
  • Your valid passport/ national ID card if you belong to the European Union
  • You will need to have student status proof and proof of UK address